ENR Weekly Report, page-13

Weekly Review REE Stocks - 24th Nov 2023

Here is the weekly review figures and charts that I do every week. It is useful only for those interested in trading or those who hold multiple shares and based on performance would like to keep re-balancing as we go. I do hold a number of REE stocks and like to trade. This is the reason I include a number of REE Stocks in my analysis.

Please note:
This is no reflection of all AU REE stocks as I have only included those that I am interested. In my list are shares that I hold, held before or planning to buy in near future. Since this is my list, I may have missed some good stocks. The averages are simple averages and not weighted averages. So the average don't reflect AU REE average. This is just for my tracking and analysis.
.

.
Please note that all my analysis are from a trading perspective looking at short-term view.
.
.
This list contains 26 REE related stocks and no new additions this week.
.
.

How are we going in 2023 - General Markets

• SP 500 has continued its uptrend, 4th straight week of gains - gaining just over 1% this week
• SP 500 crossed key level of 4500 last week and stayed above that number the whole week - which should be considered bullish. Next 4600 and then all time high above 4800. Downside first 4450, then 4330
• Volatility Index VIX is below 13 - very bullish, Yields have come back more but still high, Dollar Index weakening now but still not much
• Bitcoin finally made its decisive move above 35k, now over 37k and making an attempt towards 40k - bullish for stock markets from a risk taking perspective
• Sentiment Indicator - moved in Greed section from 58 to 68 - so punters are also hopeful of some more gains
• So overall markets going in right direction. Russell 2000 (worst performing index) too trying to come back but has to do more - so that our risk/resource stocks also enjoy the boom
• Seasonally they say we bottom in October. If seasonality is to play, we may have bottomed in October - again - as last year

.
.
What may happen next week - General Markets:

• Chances are good that overall markets may still be favourable
• There is a possibility of some consolidation, but 4600, an 18 month high, is attracting punters like a magnet
• It would be good to get over 4600 on SP 500, so 4450 can act as support - this may then form the platform for move to 4800
• Key economic data this week around - PCE, GDP, PMI - along with some Fed speech - these could provide directions
• 
  

.
.
Personally:
My situation is slightly different to last week. Last week - 30% U, 50% Li, 5% others and 15% cash. This week - 35% U, 30% Li, 5% others and 30% cash.

Last week I had mentioned two big ones that I was playing, two Lithium stocks -

• First one, which I have been playing for medium term, I could see some short-term topping process. As I mentioned on that thread, I had got out of a fair few mid this week. So currently hold one-third of what I was. Watching to see a trend change including volume coming back before I buy back. The SP did drop 20% below my sell price but is trying for a recovery - it could happen, but I feel it may need more volume or news. When I first bought and wrote on that stock the price that I had bought, SP did gain over 250% in last few weeks, my gain was around 150% as I was buying in tranches, so very lucky there
• Other I I mentioned I was playing with very soft hands based on past history of Li stocks in this phase (Stage 1 -potential/hope/hype) - Previous week I had exited 40%, this week another 60% - so I am out - SP did drop 30% from my sell price, trying to make a recovery, so will be watching
• I have picked up a few more U stocks and feeling the consolidation which is going on may be towards the end phase, but not there yet. Have been steadily adding around 5% each week of my portfolio for last few weeks
• Reason I have more cash at 30% is because I sold a few stocks this week
• All the above is just based on my analysis, feelings etc - I could be wrong and have been wrong many times before, so please dyor and check risk/reward

.
.
Stock/Sector specific Info:

• ENR remained nearly flat for this week, at 39. No real volume indicator/hint at this stage, so just consolidating, waiting for next catalyst
• I am still holding my buys at 32. Will exit if 35 does not look like holding, it reached 35 this week but volume was not enough, so just held for now
• The REE sectors stocks I track gained 4% across 26 stocks for the year,
• This week across 26 stocks there was loss of 1% - mixed results, nothing major
• Couple of weeks week I wrote that I exited WA1 with a sizable holding, in high 10s, not sure what is happening, but this week touched 810 - was that the bottom for this phase? - watching at this stage
• Overall REE sector is not doing well, very few stocks in green for the year. But maybe things might turn now - not there yet, but if general markets also move in positive direction, we could see some bottoming happening.
• Any announcement can have an effect of sp - both up and down
• 
  

.
.
Here is the Figures for the Week:
.
.